Gold price India declined for second consecutive day today on April 22, 2024 amid easing fears of a wider Middle East conflict. Price of 22k gold in India on April 22 is Rs 67,550/10 grams after the decline by Rs 500. Price of 100 grams of 22k yellow metal is Rs 6,75,500 after the fall by Rs 5000 in the country on Monday. Meanwhile, 24k gold price is Rs 73,690/10 grams after the dip by Rs 550. On the other hand, 100 grams of 24k precious metal has become cheaper by Rs 5500 to Rs 7,36,900 on Monday.
If you are thinking of buying 18 carat gold in the country today, you need to shell out Rs 55,270/10 grams and for 100 grams of 18 carat yellow metal, you need to pay Rs 5,52, 700Guoabong Investment. In the last 10-days beginning from April 13 -April 22, gold prices recorded biggest rally on April 16 when 22 carat yellow metal prices surged by Rs 900 and 24 carat yellow metal prices soared by Rs 980. Meanwhile, gold prices saw biggest decline on April 13, when 22k yellow metal fell by Rs 700 to Rs 66,500 and 24k precious metal declined by Rs 760 to Rs 72,550.
US gold prices declined today as increased US Treasury yields weighed on dollar-priced bullion. Meanwhile, investors are keeping a close vigil on any likely escalation in the Middle East conflict. Spot gold declined 0.3% to $2,381.36 per ounce, as of 0054 GMT. US gold futures were down 0.7% to $2,395.80 per ounce. Spot silver dipped 0.6% to $28.48 per ounce while platinum fell 0.1% to $930.72, and palladium remained unchanged at $1,026.44, according to Reuters.
"Right now, there is a lack of catalyst for gold prices to actually push up higher. At this juncture, it seems to us that the market is now coming to the realisation on the higher cost of holding gold," said Kelvin Wong, a senior market analyst for Asia Pacific at OANDA. Benchmark 10-year U.S. Treasury yields edged up and were last at 4.6599%, making non-yielding bullion less attractive, added the Reuters report. Market participants are currently awaiting for key U.S. inflation reading due later this week for interest rate cues.
MCX on April 22, 2024 witnessed active trading in gold futures contracts expiring on June 5, 2024. These contracts were quoted at Rs 72,193 per 10 grams. Silver futures contracts expiring on May 3, 2024, were priced at Rs 82,346 on the MCX.
Expressing views on the recent rally in gold prices, Anuj Gupta, Head of Commodity & Currency at HDFC Securities stated, "In YTD time, gold rate today is around Rs 9,500 per 10 gm higher from its 2023 close of Rs 63,200 levels, this means gold prices have appreciated to the tune of 15%. Likewise, in April 2024, gold prices have appreciated to the tune of 7.60%. However, in one year, the gold rate today is around Rs 13,000 per 10 gm higher, which is around 22% higher from its price of Rs 59,500 per 10 gm level a year ago."
Gold Price Chennai: Price of 10 grams of 22 carat of gold price Chennai today is Rs 68,450 and cost of 10 grams of 24 carat gold is Rs 74,670.
Yellow Metal Price Mumbai: Price of 10 grams of 22 carat gold in Mumbai on April 22 is Rs 67,550 and cost of 10 grams of 24 carat yellow metal is Rs 73,690.
Precious Metal Price Delhi: Price of 10 grams of 22 carat yellow metal in Delhi on April 22 is Rs 67,700 and cost of 10 grams of 24 carat gold is Rs 73,840.
Gold Price Kolkata: Price of 10 grams of 22 carat of yellow metal in Kolkata on April 22, 2024 is Rs 67,550 and cost of 24 carat of 10 grams gold is Rs 73,690.Pune Stock
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